DSP Business Cycle Fund vs Tata BSE Sensex Index Fund
Direct Plan, Growth option · Data as on 30-10-2026
DSP Business Cycle Fund is a Thematic fund and Tata BSE Sensex Index Fund is an Index fund. In the year to 30-10-2026, DSP Business Cycle Fund (Direct) returned −3.5% and Tata BSE Sensex Index Fund (Direct) returned −11.2%. DSP Business Cycle Fund charges 1.12% a year and Tata BSE Sensex Index Fund 0.33% (Direct plans). Their portfolios overlap 47.8%: they hold 15 of the same securities.
DSP Business Cycle Fund
Thematic
- 1 year return
- −3.5%
- Expense ratio
- 1.12%
- NAV
- ₹10.05
Tata BSE Sensex Index Fund
Index
- 1 year return
- −11.2%
- Expense ratio
- 0.33%
- NAV
- ₹199.52
Which is better, DSP Business Cycle or Tata BSE Sensex Index? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- DSP Business Cycle returned more over 1 year: −3.5% against −11.2%.
- Tata BSE Sensex Index costs less: 0.33% a year against 1.12% (Direct plans).
- DSP Business Cycle fell less in its worst fall since 18-12-2024: −14.8% against −16.2%.
- Tata BSE Sensex Index holds more in large companies: 100.0% of the fund in large caps against 65.1%.
- DSP Business Cycle is the larger fund: ₹1,474 Cr against ₹364 Cr.
- Their portfolios overlap 47.8%: 15 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | DSP Business Cycle Fund | Tata BSE Sensex Index Fund |
|---|---|---|
| Fund house | DSP Mutual Fund | Tata Mutual Fund |
| Category | Thematic | Index |
| AUM | ₹1,474 Cr (30-09-2026) | ₹364 Cr (30-09-2026) |
| NAV | ₹10.05 (Direct) | ₹199.52 (Direct) |
| Expense ratio (Direct) | 1.12% | 0.33% |
| Expense ratio (Regular) | 2.58% | 0.58% |
| Riskometer | Very High | Very High |
| Benchmark | Nifty 500 TRI | BSE SENSEX TRI |
| Launch date | 17-12-2024 | 25-02-2003 |
| Minimum investment | ₹100 | ₹5,000 |
| Lock in | None | None |
| Fund managers | Anish Tawakley, Sandeep Yadav, Aparna Karnik | Nitin Sharma, Rakesh Prajapati |
| Exit load | 0.5% for redemption within 1 Month | Exit load of 0.25% if redeemed within 7 days |
DSP Business Cycle vs Tata BSE Sensex Index: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| DSP Business Cycle Fund (Direct) | −0.33% | −5.94% | −2.81% | −3.53% | -- | -- | -- |
| Tata BSE Sensex Index Fund (Direct) | +2.74% | −4.35% | −2.56% | −11.22% | +5.93% | +5.54% | +11.16% |
| Thematic average | −2.09% | −4.52% | +0.86% | −1.22% | -- | -- | -- |
Category average: the average of the 235 Thematic funds, same plan type.
DSP Business Cycle vs Tata BSE Sensex Index: Year-wise Returns
| Year | DSP Business CycleDSP Business Cycle | Tata BSE Sensex IndexTata BSE Sensex Index |
|---|---|---|
| 2026to date | −3.77% | −12.13% |
| 2025 | +4.31% | +10.07% |
| 2024 | -- | +9.06% |
| 2023 | -- | +19.87% |
| 2022 | -- | +5.50% |
| 2021 | -- | +22.05% |
DSP Business Cycle vs Tata BSE Sensex Index: Rolling Returns
Every holding period of both funds, against Nifty 500 TRI, the benchmark of DSP Business Cycle Fund
Rolling returns
Every 1-year holding period, 212 of them, one for each trading day from 18-12-2025 to 30-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
DSP Business Cycle Fund (Direct)
Tata BSE Sensex Index Fund (Direct)
Nifty 500 TRI
to
Jan 2026Mar 2025
to
Mar 2026Apr 2025
to
Apr 2026Jun 2025
to
Jun 2026Aug 2025
to
Aug 2026Oct 2025
to
Oct 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSP Business Cycle | 10.4 | 31.1 | 35.4 | 14.6 | 7.5 | 0.9 | 0.0 | 6.4% | 5.8% | −5.4% | 21.4% | 91% |
| Tata BSE Sensex Index | 66.5 | 6.6 | 19.8 | 7.1 | 0.0 | 0.0 | 0.0 | −1.5% | −3.7% | −12.9% | 11.4% | 10% |
| Nifty 500 TRI | 27.8 | 31.6 | 28.3 | 9.4 | 2.8 | 0.0 | 0.0 | 3.5% | 2.8% | −9.0% | 15.9% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty 500 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 18-12-2024. Past returns do not promise future returns.
DSP Business Cycle vs Tata BSE Sensex Index: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 18-12-2024 to 30-10-2026: 23 instalments, ₹2,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| DSP Business CycleDSP Business Cycle Fund (Direct) | ₹2,30,000 | ₹2,30,311 | ₹311 | 0.1% |
| Tata BSE Sensex IndexTata BSE Sensex Index Fund (Direct) | ₹2,30,000 | ₹2,18,836 | −₹11,164 | −4.9% |
DSP Business CycleDSP Business Cycle Fund (Direct)
Tata BSE Sensex IndexTata BSE Sensex Index Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
DSP Business Cycle vs Tata BSE Sensex Index: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | DSP Business Cycle Fund (Direct) | Tata BSE Sensex Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | −3.53% | −11.22% |
| Standard deviation | 13.92% | 13.83% |
| Sharpe ratio | -0.63 | -1.19 |
| Sortino ratio | -0.87 | -1.59 |
| Maximum drawdown | −11.9% (30-03-2026) | −16.2% (31-03-2026) |
| Beta | 0.94 | 1.00 |
| Alpha | +2.99% | −0.32% |
From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | DSP Business Cycle Fund (Direct) | Tata BSE Sensex Index Fund (Direct) |
|---|---|---|
| Return (CAGR) | +0.26% | +10.86% |
| Standard deviation | 13.60% | 15.68% |
| Sharpe ratio | -0.39 | 0.31 |
| Sortino ratio | -0.53 | 0.42 |
| Maximum drawdown | −14.8% (28-02-2025) | −37.0% (23-03-2020) |
| Beta | 0.92 | 0.99 |
| Alpha | +1.15% | −0.57% |
From daily NAVs, 18-12-2024 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
DSP Business Cycle Fund (Direct)
Tata BSE Sensex Index Fund (Direct)
Nifty 500 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| DSP Business Cycle Fund (Direct) | −14.8% | 02-01-2025 | 28-02-2025 | 25-06-2025 | 4 months | −7.5% |
| Tata BSE Sensex Index Fund (Direct) | −16.2% | 02-01-2026 | 31-03-2026 | Not yet | -- | −12.7% |
| Nifty 500 TRI | −14.7% | 02-01-2026 | 30-03-2026 | Not yet | -- | −8.4% |
From daily values since 18-12-2024, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
DSP Business Cycle Fund (Direct)
Tata BSE Sensex Index Fund (Direct)
Nifty 500 TRI
Against Nifty 500 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| DSP Business Cycle Fund (Direct) | 99% | 97% | 3.94% |
| Tata BSE Sensex Index Fund (Direct) | 77% | 85% | 5.81% |
From month-end values since 18-12-2024. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
DSP Business Cycle vs Tata BSE Sensex Index: Portfolio Overlap
From each fund's latest monthly portfolio: DSP Business Cycle Fund, September 2026; Tata BSE Sensex Index Fund, September 2026
Holdings in common
- Overlap
- 47.8%
- Held by both
- 15
- Only in DSP Business Cycle
- 40
- Only in Tata BSE Sensex Index
- 15
| Security | % of DSP Business Cycle | % of Tata BSE Sensex Index |
|---|---|---|
| ICICI Bank Limited | 9.85% | 11.04% |
| HDFC Bank Limited | 9.55% | 12.59% |
| Bharti Airtel Limited | 4.44% | 6.38% |
| Axis Bank Limited | 5.42% | 4.08% |
| Larsen & Toubro Limited | 3.98% | 5.11% |
| Reliance Industries Limited | 3.12% | 9.16% |
| Mahindra & Mahindra Limited | 3.11% | 3.07% |
| Maruti Suzuki India Limited | 2.30% | 1.79% |
| NTPC Limited | 2.71% | 1.78% |
| Ultratech Cement Limited | 2.68% | 1.50% |
| Asian Paints Limited | 2.63% | 1.27% |
| Interglobe Aviation Limited | 1.13% | 1.30% |
| Power Grid Corporation of India Limited | 1.04% | 1.38% |
| State Bank of India | 0.85% | 4.64% |
| Trent Limited | 0.37% | 1.01% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 47.8% means 47.8% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in DSP Business Cycle Fund
| Security | % of fund |
|---|---|
| DLF Limited | 2.67% |
| Hero MotoCorp Limited | 2.28% |
| HDFC Life Insurance Co Limited | 1.61% |
| Hyundai Motor India Limited | 1.45% |
| Schaeffler India Limited | 1.24% |
Largest holdings only in Tata BSE Sensex Index Fund
| Security | % of fund |
|---|---|
| INFOSYS LTD | 4.09% |
| KOTAK MAHINDRA BANK LTD | 3.57% |
| BAJAJ FINANCE LTD | 2.99% |
| ITC LTD | 2.96% |
| ETERNAL LTD | 2.69% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | DSP Business Cycle | Tata BSE Sensex Index |
|---|---|---|
| Equity | 82.7% | 100.0% |
| Debt | 0.0% | 0.0% |
| Cash and others | 17.3% | -0.0% |
Market cap of stocks
| Market cap | DSP Business Cycle | Tata BSE Sensex Index |
|---|---|---|
| Large Cap | 65.1% | 100.0% |
| Mid Cap | 12.4% | 0.0% |
| Small Cap | 5.2% | 0.0% |
| Not on AMFI's list | 0.1% | 0.0% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | DSP Business Cycle | Tata BSE Sensex Index |
|---|---|---|
| Banks | 26.2% | 35.9% |
| Automobiles | 9.5% | 4.9% |
| Petroleum Products | 4.6% | 9.2% |
| IT - Software | 0.0% | 9.2% |
| Telecom - Services | 4.9% | 6.4% |
| Insurance | 5.3% | 0.0% |
| Construction | 4.0% | 5.1% |
| Diversified FMCG | 0.0% | 4.9% |
| Cement & Cement Products | 4.2% | 1.5% |
The six largest sectors of each fund's stocks, % of the fund.
DSP Business Cycle vs Tata BSE Sensex Index: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | DSP Business Cycle Fund | Tata BSE Sensex Index Fund |
|---|---|---|
| Total expense ratio (Direct) | 1.12% | 0.33% |
| Base expense ratio (Direct) | 0.55% | 0.27% |
| Total expense ratio (Regular) | 2.58% | 0.58% |
| Base expense ratio (Regular) | 1.81% | 0.51% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
DSP Business Cycle Fund vs Tata BSE Sensex Index Fund: Frequently Asked Questions
What is the difference between DSP Business Cycle Fund and Tata BSE Sensex Index Fund?
DSP Business Cycle Fund is a Thematic fund, Tata BSE Sensex Index Fund is an Index fund, run by DSP Mutual Fund and Tata Mutual Fund. Their portfolios overlap 47.8%. DSP Business Cycle Fund charges 1.12% a year and Tata BSE Sensex Index Fund 0.33%.
Which has given higher returns, DSP Business Cycle Fund or Tata BSE Sensex Index Fund?
Over 1 year: DSP Business Cycle Fund −3.53%, Tata BSE Sensex Index Fund −11.22%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, DSP Business Cycle Fund or Tata BSE Sensex Index Fund?
Tata BSE Sensex Index Fund charges less: 0.33% a year against 1.12%. These are the Direct plans' total expense ratios reported to AMFI.
How much do DSP Business Cycle Fund and Tata BSE Sensex Index Fund overlap?
47.8%. They hold 15 of the same securities, the largest shared ones being ICICIBANK, HDFCBANK, BHARTIARTL. From each fund's latest monthly portfolio.
Which is riskier, DSP Business Cycle Fund or Tata BSE Sensex Index Fund?
On SEBI's riskometer, DSP Business Cycle Fund is rated Very High and Tata BSE Sensex Index Fund Very High. Over 1 years, the standard deviation of daily returns was 13.92% and 13.83% a year.
Can I invest in both DSP Business Cycle Fund and Tata BSE Sensex Index Fund?
Yes. 47.8% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages DSP Business Cycle Fund and Tata BSE Sensex Index Fund?
DSP Business Cycle Fund: Anish Tawakley, Sandeep Yadav, Aparna Karnik. Tata BSE Sensex Index Fund: Nitin Sharma, Rakesh Prajapati.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.